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Stock Alert: Gilead Down 4% On Remdesivir Trial Data

Shares of Gilead Sciences (GILD) are slipping nearly 4% on Monday morning hurt largely by the latest data from its trials of remdesivir in patients with COVID-19.

Gilead said that in its late-stage clinical trials of patients in 5-day remdesivir treatment were 65% more likely to show clinical improvement, compared with those receiving standard care.

However, no statistically significant improvement showed in patients taking a 10-day course of the medicine.

"Our understanding of the spectrum of SARS-CoV-2 infection severity and presentations of COVID-19 continues to evolve," said Francisco Marty, MD, an infectious diseases physician at Brigham and Women's Hospital, and associate professor of medicine at Harvard Medical School. "These study results offer additional encouraging data for remdesivir, showing that if we can intervene earlier in the disease process with a 5-day treatment course, we can significantly improve clinical outcomes for these patients."

Remdesivir is currently approved in Japan as a treatment for patients infected with SARS-CoV-2, the virus that causes COVID-19. Outside of Japan, remdesivir is an investigational, unapproved drug.

The U.S. Food and Drug Administration granted remdesivir an Emergency Use Authorization for the treatment of hospitalized patients with severe COVID-19; the authorization is temporary and does not take the place of the formal new drug application submission, review and approval process.

GILD is currently trading at $74.74, down $3.09 or 3.97%, on the Nasdaq.

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